October 30, 2009 Closings
Date:
October 30, 2009
Maximum Amount:
$15.40 billion
Amount Spent:
$2.50 billion
Deficit Impact:
$2.50 billion These nine banks have been closed, and all individual deposits up to $250,000 have been insured by the FDIC. U.S. Bank, N.A. has agreed to assume all the assets and deposits of the nine failed banks.
Source:
Notes:
Although FDIC costs are counted on-budget, they should eventually be offset by proceeds from the sale of liquidated assets and higher premiums for deposit insurance. Maximum amount indicates value of total bank deposits. Amount spent and deficit impact represent FDIC-estimated cost to deposit insurance fund.